According to the Hashrate Index report, global Bitcoin hash rate will drop to approximately 1,004 EH/s in Q2 2026, a decrease of about 5.8% from Q1. This decline is mainly due to the price falling approximately 50% from the 2025 peak and mining revenues reaching historic lows, forcing some older mining machines to shut down. Hash rate remains highly concentrated, with the United States (37.4%), Russia (16.9%), and China (12.0%) accounting for about 65% combined; meanwhile, emerging markets such as Kyrgyzstan and Paraguay are experiencing countercyclical growth supported by low-cost energy and new equipment. The core driver of current hash rate changes remains profitability rather than policy or energy factors.